Indian Stock markets closed negative for the third consecutive day after a positive opening. Selling was witnessed in select counters at higher levels. The BSE Sensex closed at 10,817 down 81 points after hitting an intraday high of 11,036 and low of 10,715. The Nifty shut at 3,330 down 1.04% or 35 points. It has hit a high of 3,401 and low of 3,296 respectively.
The benchmark indices closed with modest loss and were trading volatile allthrough the session. The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764.
The Nifty was down 12 points to end the day at 3,365. It hit an intra-day high of 3,414 and low of 3,309.
Among the broader indices, BSE Midcap Index slipped 5 points, whereas Smallcap Index closed after gaining 17 points.
The benchmark indices ended with modest loss and were trading volatile throughout the session. The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764. The Nifty was down 12 points to settle at 3,365. It touched an intra-day high of 3,414 and low of 3,309. Among the broader indices the BSE Midcap Index was down 5 points while Smallcap Index shut at up at 17 points.
The markets remained choppy and volatile ahead of monetary policy tomorrow and ended on a flat note. The Sensex swung between 11,209 and 10,863 before closing at 10,979 down 44 points.
The NSE Nifty shut at 3,377 down 7 points after swinging between day's high of 3,441 and low of 3,339. However, the broader indices outperformed the benchmark indices.
The markets remained choppy and volatile on Monday, ahead of monetary policy and ended the day below the previous closing due to the sustained selling pressure in key stocks during second half of the trading session.
The BSE Sensex closed lower by 43.59 points at 10,979.50 and NSE Nifty ended down by 7.30 points at 3,377.10. The BSE Sensex touched intraday high and low of 11,209.66 and 10,863.28 respectively.
In its latest research report, Nirmal Bang, an equity research firm said that ICICI Bank, which presently stuck in a band of 405-445, can give good returns within 4-5 trading session.
The report further stated that, if the counter is successful to breach 445, then it will create a huge breakout.
Nirmal Bang Research has advised its clients to hold the scrip with a target price of Rs 460-485.
Sintex Industries, with strong balance sheet and huge cash balance is well Equipped to manage current challenging business Equipment. We estimates Sintex Industries to post net sales of 3300 crores and 4200 crores for FY09 and FY10 respectively, posting compounded growth rate of 40% for 4 years.
Nifty showed increased volatility around 3430 -3450 which happens to be the 200 DMA of the market and closed below this at 3384. Increasing volatility at this level is obvious as Nifty has rallied almost 1000 points from 2540 to 3510.
A consolidation can be seen around levels of 3150-3400 before market makes new highs.
Asian stocks declined, dragging the regional benchmark index from a three? month high, on speculation companies will take advantage of a six? week rally to sell shares and shore up their finances. MSCI Asia Pacific Index has rallied 26 percent from a more than five? year low reached on March 9, taking valuations to the highest since November 2007. The Bank of Japan will probably cut its forecasts for the economy and prices next week as the recession takes a toll on spending by companies and households.
The markets ended marginally higher after a huge volatile session. The Sensex lost 316 points from an intradayhigh of 11,339, before closing the day at 11,023 up 76 points. The Nifty shut at 3,384 up 0.4% or 15 points and it lost 105 points from the day's high point of 3,489. In the Broader indices, the BSE Midcap Index was up 33 points and the Smallcap Index closed 22 points.